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It's very difficult to elect not to be a participant in a qualified plan. The taxing / labor authorities think the employer is squeezing you out, consequently the employer usually doesn't want to attempt it even if you want out. I assume you are over the income threshold for the deductible IRA. This leaves you with the ROTH IRA. Assuming you are not over that threshold you can contribute $2,000. It's not deductible but the earnings are never taxed if you follow the rules.

BTW, you should talk to your employer about trashing the existing plan and going with a SEP IRA. They are very cost effective and allow the employee to elect to defer income as in a 401(k). My vague recollection is that each employee can put up to $6,000 per year into plan. Pixy probably knows this off the top of his head.
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